Cryptocurrencies
Mania in First Bitcoin ETF Cools in Canada After Robust Debut
- BTCC trading slows to $17 million from $165 million at launch
- Investors need to get comfortable, WallachBeth’s Bajaj says
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The huge spike of interest in the first-ever Bitcoin exchange-traded funds is fading almost as quickly as it appeared.
During its first two days of trading, the Purpose Bitcoin ETF (ticker BTCC) -- the first fund of its kind in North America and the first worldwide to be labeled an ETF -- saw almost $400 million shares change hands. On Tuesday, that amount dropped to $17 million.